2018
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Kotak Mahindra Bank
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Reserve Bank of India
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Canara Bank
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Federal Bank
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Detailed explanation-1: -The Reserve Bank of India has introduced an Ombudsman Scheme for customers of Non-Banking Financial Companies (NBFCs).
Detailed explanation-2: -Role and responsibilities of the IO: The IO shall deal only with the complaints that have already been examined by the NBFC but have been partly or wholly rejected by the NBFC. In other words, the IO shall not handle complaints received directly from the customers or members of the public.
Detailed explanation-3: -Commercial Banks : All commercial banks including branches of foreign banks functioning in India, local area banks and regional rural banks are insured by the DICGC.
Detailed explanation-4: -The Reserve Bank-Integrated Ombudsman Scheme, 2021 (the Scheme) was launched today in virtual mode by Hon’ble Prime Minister Shri Narendra Modi. 2.
Detailed explanation-5: -In order to ensure speedy resolution of customer grievances against regulated entities (REs), RBI brought about Reserve Bank – Integrated Ombudsman Scheme (RB-IOS) – 2021 as single point resolution mechanism. Since it is steered by RBI, all REs are conscious about compliance standards.